According to Mr. Sandeep Lal, e-business regional head at DBS, cited by online media outlet todayonline.com, the new capabilities are expected to become available to all bank’s customers by December 16th, 2012. DBS has issued 1.2 million new tokens to internet banking customers since July 2012.
The additional capabilities will cover a number of online processes, including fund transfers of more than USD 25,000 and the changing of account particulars. Depending on the transaction type, users will be required to press sign buttons on their internet banking devices to indicate that they understand the process.
In addition, customers can now choose to receive a one-time password via SMS for these transactions, while balance inquiries only require an internet banking user ID and Personal Identification Number.
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